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20121201
20121231
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. and later, the shootings in newtown, connecticut, has focused on the violence in america. we will be talking with michael goodman joining the next with his thoughts on what happens next. lou: another day of funerals for the victims of last week's elementary school shooting in newtown, connecticut. gathering for the funerals of five students in special education teacher. during the teacher's funeral, the cardinal compared her to jesus saying her life wrought light the world upset by wicked. our next guest says the president must back down on gun control without touching the second amendment. joining us now, michael goodwin. michael, your column you talk about that balancing act that seems to me all but impossible. that is to control guns without infringing upon the second amendment. >> i think president obama has two challenges. the first is as someone else put it, to take the mass out of mass murder. that is what is scaring the country. although these are fairly small number of the overall homicides in this country, they're the ones that terrorize people. we saw in connecticut the ability to
of his party in congress. the tragedy, at sandy hook elementary school in newtown, connecticut, claimed the lives of 27 people, including 20 children understandably provoking calls for solutions, prevention of such bloodshed ever again. the dire to control the inexplicable and the unpredictable. >> are we really prepared to say that we're powerless in the case of such carnage? the politics are too hard? are we prepared to say that such violence visited on our children year after year after year is somehow the price of our freedom? lou: several democratic lawmakers echoing the president's sentimentses within only hours of the shooting pushing for second amendment restrictions and tougher gun control laws nationwide. the senate's number two democrat says congressional hearings on gun control are on the way. senator dianne feinstein of california determined to get an assaults weapon ban on the floor this week, and schumer of new york sensing a political opportunity outlining to task gun control legislation this time. >> i think we could be at a tipping point for two reasons, a tipping poin
in connecticut. they'rbut by t grace of god. and not saying that malls will not be crowded. i am saying, this tragedy has changed things coming as it did when they did. the most innocent among mass. it cannot help but affect us, as lois, maybe even stop us. good for the soul, iguess, but not necessarily good for retailers. with me now, the wall street journal's steve more. spell it out. what -- and i know you monitor these sales numbers by the minute. what ffect so far? >> the fallen angels in connecticut will move the area, the country, the world to more compassion, caring, working, harder to help each other. it will be like a september september 11th effect, eggs and much more profound. so people we will shift from conspicuous consumption to giving more to churches and synagogues and spiritual institutions and give more to communities instead of shoppers shopping f their own homes, there will be giving the money to habitat for humanity. instead of shopping for themselves, they will be giving the institutions that help e communities tat are so broke and underfunded. neil: have you seen
at issue in the connecticut shooting last week. at that same pros conference where he demanded gun control proposal, president blasting speake of the house john boehner or only wants to raise taxes on millionaires. >> if you look at what the speaker has proposed, he has conceded that income tax rates should go up, right now he only wants them to go up for millionaires, if you make 900,000, he thinks you can't afford to pay more in taxes, but principal that rating are going up he has conceded. lou: you recall that president obama spent much of the past year, or yearnd a half, calling for higher taxes on millionaires and billion airs, the concessions that president referred to, leaving to more demands on the part of the president rather than a deal, congresswoman diane black is a member of the budget committee and joining us, and alter lapert is joining us and white wash over who is responsible for the benghazi terrorist attack continues in a brand-new, allegedl,ed inde independent re, sponsored by the state department. president obama today, said after last week's tragedy in connecticut, he
on a horrendous shooting in connecticut. that is coming throughout the hour. liz: how about alternative investment? putting money behind a pop culture icon. we are looking at other ways to make money than stocks but what about judy garland? the rights to her tv show are up for auction. did you know the rights and royalties of an investment can return 8% to 11% on average? better than a kick in the head. we have the man who is selling rights that he bought from judy garland's former husband. dave: today is the deadline for states to say if they will set up their own health care exchanges or leave it to the federal government to take care of. coming up an expert telling us why these exchanges could spell trouble for doctors, hospitals and insurance companies. liz: but what drove the market in the data download? stocks erasing weekly gains with all three major indices ending the week lower with the s&p snapping a three week winning streak. consumer discretionary and utilities for the week's worst performing sectors. the euro surged to its highest level in seven months at the dollar dropped for the fi
, connecticut. adam: house speaker john boehner back on capitol hill. it is the latest round of fiscal cliff talks which, as speaker boehner opens the door for tax hikes. lori: don't count apple out. dissecting the opposing analyst calls. is the worst over for shareholders? melissa: it is time for stocks now. nicole petallides standing by. nicole: we are looking good. you mentioned boehner and obama speaking once again. many traders that i have spoken with that something, some white, would get done. we are up about one half of a percent. there is the nasdaq sitting right at the 3000 mark. i also want to take a look at two names that have been making news. that is sprint and clear wire. that is about a half of a percent for sprint which is the number three u.s. wireless carrier. now, they will have full ownership of the spectrum. that is some good news for sprint. you are seeing that clear wire is selling off the news. lori: president obama and house speaker john boehner meeting just hours ago. our rich and thin was first to report this news of the meeting. rich, the house speaker seems to be
at santee elementary school in loudobbs@foxbusiness.com connecticut provoking calls for solutions and prevention of such budget. >> are we really prepared to say that we are powerless in the face of such carnage? that the politics are too hard. now we prepared to say that such violence visited on our children year after year after year is somehow the price of our freedom? lou: several democratic lawmakers echoing the president's statements within all the hours of that shooting in pushing for a new second amendment of chechen. the senate's number two democrat says congressional hearings on gun control are on the way. senator dianne feinstein telling to get an assault weapon ban bill on the floor next month. senator chuck schumer of new york since in a political opportunity, passing gun-control insulation. >> i think we could be added to pinpoint for two reasons. to pinpoint where we might actually get something done. first, this was not a single incident. second, of course, it involves children. lou: hardly anyone is using to talk about mental illness, the disaffection of the menta
of the connecticut school shooting hit, that out of nowhere, ads for tom cruise's latest movie disappeared, other movies as well. anything violent coming to the big screen sure as heck of nots showing up in promotions on the little screen, but i think it's %-politicians now targeting vido games that are already rated for things like violence and, well, exxessive anything, even popular kids' websites reviewed with critics saying there's a fine line between free speech and using a horrible tragedy to deny that speech. rudy on whether we truly are overreacting. mayor, what do you think? >> we always overreact. that's kind of normal. you get a terrible incident, and everybody is seeking a simple solution to it, easy way to deal with it so everybody looks at whatever the favorite thing is whether it's gun control, mental illness, violence in the movies. i mean, look, i don't -- i've been in law enforcement most of my life and handled hinkley case who tried to assassinate ronald reagan, and most thought it was because of jodi foster, his obsession with her, and then he tried to do the same thing, theo
are rallying today after three days of huge dive following last week's shooting murders in connecticut. private equity firm server putting its investment in a semi-automatic weapons co. on the block. who is next? your pension fund jettison these names? atop a trustee of new york's largest pension, about to break news on fox business. he will demand the fund get rid of all the exposure to the gun industry. liz: take a look at solar stocks shining brightly today. more news out of china, its cabinet saying you will reform the industry and they and governments from supporting failing domestic companies. that has occurred in the past u.s. solar companies because it is an unfavorable landscape but you see these names of looking good. guggenheim solar e t f 5% today and up 35% over the past month alone. these things are very volatile, got to be careful. less than a week after the connecticut shooting that killed 26 including 20 very young children, done stocks which the a huge dive over the past three days are making a come back from their initial pull back of starting on friday now all for a trustee
: the newtown, connecticut, t massacre creates a debate on gu. control without question. but it is arguably more important to have a national discussion on mental health ar care.topic. very unpopular dtai topic. we still don't know the facts of a 20-year-old man turning into a mass murderer last friday, b we do know many ofa the factsout about a mental health care peop systemmthat is failing. there are far too many people that coulde productive in our society. but first, we need to tlook at the truthand dimension.ll just how big is mental illness in america? well, i ho you are sitting down. because these numbers are simply sounded very at according to the national institute, the national institute of mental health, 20%o of this country, 20% of us at one time or another, some 60 million people, 60 million americans experience a mental health disorder in any given year. ve those, some 60 million peopli receive some form of help. despite the often desperate neec for care, it is almost twicea af difficult to find a mentala health professional to provide f your and find a doctor. extraori mental hea
-benz dealer. neil: we know what has our focus these days, the tragedy in connecticut, and the crisis over the cliff, but did you catch this, radar posting a decline in second quarter profit this contins a pattern of company warningshat cannot be ignored. worried about things getting bump here. he is right, any tax increase on the rich could push us closer to a recession too. tom, you say the sequel could be worse. >> right. i have to tell you fedex, among other companies are concerned about what is going on with the economy. they are hedging themselves, if this administration increases taxes on $250,000, you could see this economy go to a recession. a lot of companies prepare. neil: do you think this is preblaming, some saying just in case the numbers stink, this is what we're pegging it to? >> a great point. they are forecasting. if this president raises taxes on the wealthy -- >> what if not that wealthy. >> there are studies out there, nancy pelosi and senator schumer said, a million plus. if that happens, the economy will move in president direction. but you have the rhetoric from thi
a while. we're devastated out of news out of connecticut. it is such a tragedy. we're doing business news for you here today but for the people and parents our hearts go out. adam: if the president does make a statement we'll carry that on fox business. lori: what does your commuter mouse say about you? the scary flaw in internet explorer that may leave you vulnerable. adam: a looked a what 10 and 30-year treasurys are doing today. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anothereason more investors are saying... [ all ] i'm with scottrade. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe
in connecticut. the national rifle asociation talks to just a start today with proposals to make schools safer. james rose in with a live report . the fiscal cliff fallback plan fails. mr. president of europe. it's your turn to lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we get their god only knows. lou: chief economist joining us with perspectives on what is next for the markets, the ♪ lou: ten days until the fiscal clef. that's right. still counting. the market sell-off today on no solution and moody's chief economist and bedfrd of adviser and chairman ceo harvey eisen will join us in moments to make all of this rational and understandable. first, and the "moneyline," investors expressed disappointment in the republican failure to pass plan be by selling stocks of around the world. certainly adding to the drama today, a day in which four kinds of options expire, and that is expected a quadruple preaching day, plunging on the open, fighting its way back, ending with a loss
been one week since the elementary school massacre in connecticut. the national rifle association talks to just a start today with proposals to make schools safer. james rose in with a lie report . the fiscal cliff fallback plan fails. mr. president of europe. it's your turn o lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we et their god only knows. lou: chief economist joining us with perspectives on what is next forthe markets, the ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by d
-team." ♪ that has been one week since the elementary school massacre in connecticut. the national rifle association talks to just a start today with proposals to make schools safer. james rose in with a live report . the fiscal cliff fallback plan fails. mr. president of europe. it's your turn to lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we get their god only knows. lou: chief economist joining us with perspectives on what is next for the markets, the economy, and the country. ♪ this family used capil one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blked out." brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's doue mis u can tually use! how illuminating. what's in your walt? let me guess, am on the naughty list again? ho ho ho! let me guess, am on the naughty list again? you know it
. then there was the newtown, connecticut, massacre. that has influence the attitudes of friends and families and people i know. the tragedy of that day just a week ago, in which 26 people lost their lives, 24 of them were children between the ages of five and 10. it hangs over this usually happy season. even so, i feel grateful this year. maybe more than usual for my colleagues here at fox. with my friends and my family. we live in a country that yes, has its problems. and we talk about those problems everyday on the show. but the bottom line is this. you wouldn't want to live anywhere else, would you? i sure wouldn't. we have freedom, we have opportunity, and many of us, most of us have a roof over our heads and a safe place to sleep at night. the icing on the cake will be wrapped in boxes under the tree. but it will be in spending time with family and friends. and we know that now this year better than almost any year that i can ever remember. that, my friends, is a true blessing. merry christmas. that is what i think. now we want to know when you think. here's our question tonight. what is the emphasis in
in connecticut and the fiscal cliff. shopper track now says that stores will see a 2.5% increase in november and december, and that's down from the original projection, 3.3% gain. really? sandy? a shooting? fiscal cliff? what about a weakening economy. a few jobs, no money. maybe that's a reason for this. not great, not stellar holiday shopping season and let's bring in carol ross, former investment banker, knows a thing or two about shopping and investment petailers, i'm saying, i'm tired of the excuses. i'm tired of hearing, oh, it's sandy or it's that or that and there's always an excuse when the economy starts to weaken, i just any the economy is weakening. what do you say? >> well, i agree, i mean, obviously, people have less money, they haven't been working and they're underemployed, but i do think that this is the big piece, stuart, this is pessimism. because you have to remember, even in the face of no money and no job, which has been going on for a while. consumer credit capacity actually has been increasing and consumers have been deleveraging and their home values have been going
, connecticut as well and also by us. . [bell ringing] [moment of silence] . [bell ringing] [moment of silence] [bell ringing] [moment of silence] [bell ringing] [moment of silence] [bell ringing] [moment of silence] [bell ringing] [moment of silence] [bell ringing] >> the bell that you're hearing right now, will ring 26 times and it's the bell in newtown, connecticut memorializing the 26 victims who died exactly one week ago and there was also a moment of silence there at the new york stock exchange and the nasdaq, all right. trading has now begun this friday morning. stock prices way, way down. let's check the big board, very, very early going in just a couple of minutes into the session and down 62 points and probably heading a lot lower than that. plan b, as we called it, is history. there is an increase, a very sharply increased chance of all of us going over that fiscal cliff come january the 1st. that would mean spending cuts and much higher taxes are on the way immediately down the road. nicole, i can see a sea of red, of red ink on the new york stock exchange. >> oh, yes. stuart: whi
nonsense. >> think of the people of connecticut they have been and trauma. it could be behavioral therapy that is what we talk about. it is remarkable what can be done. john: what is goldman bent $10 million? >> alatas studies on this specific intervention says it works well for this 6318 population that is being treated as adults in the adult jail. john: you have volunteers in this did in vermont? >> good ideas with this of what we're talking about i hope this comes out good but a good idea is spread because they want to start their own versson so volunteers in medicine say free clinics can help those without insurance as well as obamacare. now there are 92 free clinics. after 15 years. it is not a media. 100 years ago we had a lot of immigrants and settlement houses across the united states. they copied each other it was not located through department of hhs but they raise their own money. this process can still go on. we can encourage it. >> now with a sophisticated website you can see where the money goes? >> you have better indicators. not just how the money is spent but the results.
before people were worried about stricter gun regulation after the shooting in newtown, connecticut. the fbi reported a record number of background checks for what their weapon purchases. it started to happen when president obama was elected to his first term. here is a look at some gun stocks. then, netflix falling victim to a service outage due to technical problems. not of its own making. blaming amazon. shibani joshi has the details. shibani: it is called the nightmare on christmas eve. you have had a nice meal and then you turn on the tv only to download a netflix video or television show and it does not work. what are you supposed to do, talk to your family, watch the christmas show for the 14th millionth time? 27 billion of the 30 million subscribers were without access. it was finally restored 12 hours later. now, the blame game gets kicked in. fingers are being pointed at amazon. it expands the technical problem and that led to the problems on netflix. "we are investigating exactly what happened and how it could have been prevented. it is amazon's problem. the web services
. they have been under pressure after the shooting in connecticut. now, they are back in action. research in motion, but very tan, waiting on that. there were concerns on how many sales actually occurred. liz: thank you. even if we can get an answer to the debt crisis from washington, d.c., the real damage may be done by the new regulation. first, some of today's winners. take a look. ♪ liz: next up, a solution to the looming debt crisis may do little to save us from an economic disaster. the white house is working on a brand-new set of regulations that could handcuff business growth. sam, basically, now it is the white house throwing banana peels in a form of new rules. >> well, just based on white house alone, there are roughly two dozen rules waiting to be pushed out. economically significant needs a minimum impact to the economy of $100 million or more. there is roughly $15 billion worth of rules sitting at the white house right now. not in insignificant number. across the board. financial, energy, there are several energy conservation rules that are at the white house right now. th
a connecticut nursing home chain to reinstate nearly 600 striking union workers, despite allegations that some of them put patients' lives at risk. the judge in the case is a clinton appointee, ruling the company should have bargained more with the aclu workers before imposing pension and health care cuts. workers are now allowed back on the job next week, even though there is still an ongoing criminal investigation into acts of sabotage and a criminal acts on the part of some of those workers. the company claiming that before they went on strike some of the employees change the names of several patients doors, real cheers, remove residents wristbands, stickers indicating of the patients should be safely fed. this followed 19 months of negotiation, and ted judge was selected by the national labor relations board. we will keep you up-to-date. angry liberal at and senior giving the president some outrageous and vice. >> there should be this lingering infestation of really corrupt people instead of trying to dismantle the wishes of the people, the man they said has been given to barack obama. i d
, they are actually ammunition maker. i've been reading about the horrible connecticut shooting in this new push for thomas. folks going out and buying guns en masse. but i think the taxes will come on the ammunition. i think that is where they will attack. they will have a great couple of quarters and they are grabbing up as much ammunition as possible. but they are a great one. gerri: if i had to base my investment choices based on congress -- i don't know, but thank you for the commentary. have a great new year. >> thank you, gerri. gerri: we will be right back with my "two cents more" and my "two cents more" and my answers the question of the day. how much did you spend this christmas season? stay with us. [ male announcer ] at scottrade, you won't just find us online, u'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder
in connecticut, new york and new jersey. melissa: is there anything that can be done to the particular bill to strip it down? i don't want to stand in the way of helping people that are really hurting but at the same time it would irk me to know end, $2 million to repair the smithsonian's roof in d.c., was it damaged by hurricane sandy and that more important than helping people again whose whole lives have been deindividual? >> the way to deal with it, strip out spending targeted to federal assets and facility and focus on moye any that should go to victims, states, local governments in the impacted area. those are things we're talking about. transpourtation repairs, debris removal, aid to victims. that is the stuff we need to focus on not all the other stuff that can be put in a appropriations bill next year if the obama administration thinks it is important enough. melissa: or not at all. a lot of this stuff shouldn't be done at all. where do you think the bill will go from here? will this thing get passed whether it irks us or not? >> i think they will strip some stuff out and debate a
of that tragedy at the elementary school in connecticut, shares of gunmakers are toxic leak. major selling pressure. right now no one wants to touch these names. the mass murders of 20 children on friday and six adults smith and wesson was up more than 170%. right now falling by multiple percentage points. debbie is day of trading ever for smith and wesson. shares of ruger down about seven and a half%, of the close of the session. we decided to put calls out to some of the top funds who have the two major gun companies and their holdings, but they're not talking. however, a short time ago, vanguard who has been lessened as one of its holdings put out a statement saying, social concerns will not affect gunmaker holdings. that is from vanguard. should you have gunstocks in your portfolio, bill gunderson, gunderson capital management founder and president was here with us back in january, almost one year ago. you are really liking these names. where are you now on that? >> you know, i had an entire theme of investing in hard times stocks, i did really well. i am not actually in those anymore.
out there now, a fabulous show up in connecticut stted out here in manhattan, comes from a family of farmers. what he has done is pu together a nonprofit where, if you're on food stamps and you g to a farmer's mart in you buy food to suffer in vegetables, they double the value for you. so there is a lot of programs out there in this country that really helped. but when we look at know, for example, one of the things that has me concerned, if you could do york city, and there has been a lot of research of the past year, year-and-a-half since the mayor talked about this, the soda tax in changing the size is die in those ciies where soda is less expensive than milk soda consumption is tired and milk. in those cities that no consumption come up prices are lower, guess what. tom: so you're saying that milk prices shoot up, people just switch over and start tracking service. >> absolutely. tom: a $1 trillion five-year deal. every five years this thing comes around. every ve years i hear the same complaints and nothing gets done >> correct goes back to 1949 when the farm bill started. it
of these names are under fire for the violent videos as it appears the man who opened fire on the connecticut school was watching a lot of violent video games. david: not a surprise. growing as more companies look to expand and order parts. find out which industries are placing orders and the biggest hurdle facing the parts maker, and it is not the fiscal cliff. liz: you should avoid european debt through the new year. it has not been a great play, but find out why and where he sees real opportunity for you to make a profit. david: what drove the market with today's data downloads. the dow crossing the unchanged line 43 times before they fall firmly into the red. weakness in defensive stocks led all s&p sectors, everyone of them into negative territory's. it was a broad-based loss today. consumer staples were the worst performers. new home construction: after soaring to the highest level in more than four years of previous month. the commerce department reporting housing starts flowing i861,000 last month, 3% drop frm october but despite the drop housing stocks are on track for their best ye
will be gone. massachusetts and connecticut will be out of the ski business completely. you can only adapt so much before you say the revenue is not there to keep the doors open. sandra: what are your forecasters telling you now about the coming year? obviously we just had, last winter was the fourth warmest on record since 1896. things should get better from that, right? >> well we sure hope so but we're looking at the long-term trend. when you look at climate change you can't predict individual weather patterns over the next week or the next month. we're looking at the long-term trend. up fortunately as you mentioned we're working on the first 11 months of this year are the hottest on record in the united states. we have to go after the problem the problem is industrial carbon pollution. we have to strike a blow against climate change. sandra: we have to leave it there, bob but i'm wondering, can't we just keep making snow? can't we put snow on those mountains you know? it is expensive i know. >> it's expensive. half a million dollars a year on average for a ski resort to make its own snow.
and tomorrow morning. boston and philadelphia and parts of connecticut could see up to 4 inches of snow. the storm will move quickly and be gone by sunday. coming up next, a shiny new iphone-5 and what to do with your old smartphone if you have a new one that you got for christmas. coming up later in the show, if you thought luxury cars were safe, you want to hear this story. shocking details of the reports. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. gerri: if you are looking to upgrade your smart phone, we have tips about how to make money and protect personal data. a ceo joins me now, sergio, it's great to have you. >> thank you for having me. gerri: okay, how much money can you make? >> you try to sell -- if you are going to buy an iphone-5, you're probably in the contract. if you actually have an iphone 4-s, you can sell the 4-s for about $480. gerri: are you kidding me
after friday's tragedy at sandy hook in connecticut. they acquired firearms making bushmaster in 2006 merging it with other gun companies to create freedom group. they manufacture the ar-15 rifle believed to have been used by the shooter. >>> conocophillips selling its algerian unit for $7.5 billion. shares of the company closed up over 1% today on that news. >>> mcdonald's is reportedly urging its franchise owners to stay open for christmas. that's according to a memo leaked from the fast-food giant obtained by advertising age. mickey d's wants to capitalize on stellar sales it recorded by staying open on thanksgiving. that's the latest from the fox business network, giving you the power to prosper. d#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to gmany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly
in newtown, connecticut sales are way up. he will be on the show next. stuart: the final week of the year, usually this is a boom town for charities. people make their contributions to save on taxes and they do those contributions right now. there has been talk that a charitable deduction could be eliminated or restricted. our next guest says that would be a terrible idea. the former chairman of the new york faith council on the arts, welcome to the program. good to have you with us. >> how are you today? stuart: pretty good. if you get a restriction on the charitable tax deduction or it is eliminated i understand charitable contributions would probably o down. i can see that happening but doesn't that imply that the whole reason for giving to charity is to get a tax break as opposed to supporting the good that the charity does? >> that is a misnomer. so many people think we are giving something to the ridge and the wealthy by giving them a tax break. firstly, the charitable sector is $1.9 trillion industry, 5.5% to 6% of our economy, charitable organizations like the salvation army, the
Search Results 0 to 39 of about 40 (some duplicates have been removed)